Comments on: Your Future or Your Present? http://www.scottsemple.com/your-future-or-your-present/ "Coming home from very lonely places, all of us go a little mad: whether from great personal success, or just an all-night drive, we are the sole survivors of a world no one else has ever seen." - Joh Mon, 26 Apr 2010 23:27:39 +0000 hourly 1 By: Scott http://www.scottsemple.com/your-future-or-your-present/comment-page-1/#comment-251 Scott Sat, 28 Feb 2009 17:11:17 +0000 http://blog.scottsemple.com/?p=98#comment-251 Probably not an MBA, but more education than 99% of business owners have... Probably not an MBA, but more education than 99% of business owners have…

]]> By: David Haavik http://www.scottsemple.com/your-future-or-your-present/comment-page-1/#comment-250 David Haavik Sat, 28 Feb 2009 15:59:23 +0000 http://blog.scottsemple.com/?p=98#comment-250 Well put. Personal and business. Do you need to get an MBA to figure that out? Well put. Personal and business. Do you need to get an MBA to figure that out?

]]> By: butch hillhurst http://www.scottsemple.com/your-future-or-your-present/comment-page-1/#comment-249 butch hillhurst Thu, 19 Feb 2009 01:08:37 +0000 http://blog.scottsemple.com/?p=98#comment-249 This remind sme of a chapter I read in a book which I think was called "The Millionaire Next Door." The author, a sociology prof if memory serves, has studied the wealthy and in this book he describes those who become millionaires rather than those who inherit their $$. One of his very interesting observations is that among the self-made wealthy, the men almost all have re-soleable leather dress shoes (not sneakers). He thought about this and suggested that it was a mini-version of their attitude toward business and money. A dress shoe costs more than a pair of say Air Jordans, but it will last basically forever with some care and can be re-soled for cheap. A pair of Air Jordans, however, will either look unfashionable or be trashed in six months. The point? The self-made wealthy invested their money in shoes that had long-term value and functionality, and avoided the trendy, disposable and long-term-expensive. A pretty good blueprint for personal finance and business investment, no? This remind sme of a chapter I read in a book which I think was called “The Millionaire Next Door.” The author, a sociology prof if memory serves, has studied the wealthy and in this book he describes those who become millionaires rather than those who inherit their $$.

One of his very interesting observations is that among the self-made wealthy, the men almost all have re-soleable leather dress shoes (not sneakers). He thought about this and suggested that it was a mini-version of their attitude toward business and money. A dress shoe costs more than a pair of say Air Jordans, but it will last basically forever with some care and can be re-soled for cheap. A pair of Air Jordans, however, will either look unfashionable or be trashed in six months.

The point? The self-made wealthy invested their money in shoes that had long-term value and functionality, and avoided the trendy, disposable and long-term-expensive. A pretty good blueprint for personal finance and business investment, no?

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